LANDLORD LIEN WAIVER AND COLLATERAL ACCESS AGREEMENT

The primary purpose of this agreement is to protect the Lender’s security interest in the Tenant’s personal property that is or may be located on the leased premises, which is used as loan collateral. The Landlord agrees to waive lien rights and grant access so the Lender can inspect, protect, and remove the loan collateral if necessary, even if the lease terminates. The Lender may modify, extend, or amend the loan or related documents without notifying or obtaining consent from the Landlord. Such changes do not affect the validity of the lien waiver or subordination.

The Landlord must give prompt written notice to the Lender of Lease defaults, Lease termination or expiration and Tenant abandonment or surrender of the premises. Before terminating the lease, the Landlord must allow the Lender an opportunity to cure Tenant defaults. The Lender is not obligated to cure defaults and is not responsible for future defaults.

Upon proper notice, the Lender may access the leased premises during normal business hours to inspect the loan collateral, enforce its lien, protect, remove, or liquidate the loan collateral. These rights apply whether or not the Tenant is still in possession of the premises.

 

Any physical damage caused by removal of the loan collateral must be repaired promptly by the Lender and/or Tenant.

The agreement makes clear that the Lender does not assume the lease, is not responsible for rent or other tenant obligations and has no duty to remove any remaining tenant property.

This agreement is a lender-protection document that minimizes landlord interference with secured collateral. It ensures predictable access and enforcement rights for the Lender while limiting the Landlord’s lien claims, without shifting lease obligations to the Lender.